With the organised sector of socks market fast opening up and growing, Bonjour, the first Indian multinational socks brand, is focusing on expansion of its own brand portfolio. The 30-year old company is not only gearing up to tap the fast growing Indian socks market, which is estimated to be Rs 5000 crore (or 90 crore pairs in volume), but also to explore new geographies, overseas.
Significantly, as per various market research, organised sector constitutes nearly 15 per cent of the socks market in India as of now, while the remaining 85 per cent falls into unorganised sector. Interestingly, the organised sector is growing more rapidly due to organised retail stores. The online/ecommerce business is also giving extra mileage to organised sector. Besides, high street market, despite having some challenges, is somehow able to retain its business thanks to the huge demand, said Raj Kumar Jain, managing director, Bonjour Group. Bonjour reaches out to domestic consumers through 7000 retail outlets which are catered by 120 distributors. Then there is a team of qualified and well trained marketing executives, which helps in reaching out to every individual dealer for personalised services.
“The socks market in India has registered rapid growth in a very short span of time. It reflects that nowadays people are getting increasingly aware about their feet hygiene and they also realise that comfort comes first. There is a lot of variety available in the socks market, which attracts the buyers and offers them a huge range filled with different colors, prints and fabrics (knitted and woven socks) in range of footlet, ankle length and full length socks. But we are the only brand that uses imported patented technologies to provide the most hygiene based products to its consumers,” said Jain.
It has a complete in-house design studio and R&D department with highly trained staff. They keep their close eye on designs, trends and research and develop the different type of socks and garments range. With their collective efforts, Bonjour is able to make 2000 type of different socks according to the feedback received from its customers.
Now the company is not only keen on tapping the vast Indian market but overseas markets also. “We export our socks range regularly to UAE, the US and European markets. Overall, the export volume is around 5 million pairs. And now we are planning to strengthen our export capabilities under the ‘Make in India’ initiative. Besides, we also manufacture the socks for various prestigious Indian brands and we export them as well in the international market,” said Jain.
Interestingly, nearly 30 per cent of Bonjour’s business comes from other resources apart from socks such as women leggings, men handkerchiefs, leather accessories and tights, underskirt and shorts for school kids. Jain said, “We have been working in the direction of increasing our product range to generate more revenue for us by giving supreme quality products to our esteemed customers. With this vision, we have recently launched our various products into our EBOs those are located in Delhi-NCR in total number of 12. And we keep on expending our EBO network. All the categories mentioned above are the best sellers of Bonjour but sports and wellness category (Health socks and Diabetic socks) are the most promising product of ours.”
Talking about most significant trends in the socks market, Jain said, “People are becoming more aware of the good comfortable, non itching, good looking socks. And as a result of this, we have recently introduced two different ranges of socks, which are branded as Bonjour Fantasy Socks and Bonjour WOW socks. Bonjour Fantasy socks are ankle length socks meant exclusively for the females, who wish to keep vibrancy in their attire. These anti bacterial socks are filled with different vibrant color patterns, whereas WOW socks are youth centric unisex socks. The special thing in these socks is that we have given different type of quotes in these socks with very bright colours. These full length socks are made for college going youngsters those wish to give style statement though their socks. Like this, we are going to introduce various other types of socks range to Indian market.”